Lambert Smith Hampton - Chepstow, Newhouse Farm

Date: 05 Feb 2010

Large Chepstow industrial sold for £13 million.

South Wales' largest speculative industrial unit at Severn Crossing in Chepstow, plus 18 acres of development land, has been purchased by locally-based Mabey Group for £13 million.

This high specification warehouse/distribution building comprises 182,506 sq ft and is situated within South Wales' premier distribution park, Newhouse Farm, which services South Wales, south west England and the Midlands.

The Mabey Group of companies is a major British organisation which specialises in bridging, steel fabrication, plant hire and construction products.

The Bristol and Cardiff offices of commercial property consultancy, Lambert Smith Hampton (LSH) and DTZ, acted on behalf of Ciel Properties, who asset managed the landlord's interests in the transaction.

Tom Gibbons, Director at LSH Bristol, said: "As a distribution centre, Severn Crossing couldn't be better placed for occupiers looking for swift access to all the major transport links of the UK. With journey times of only 30 minutes to both Bristol and Cardiff, 25 minutes to Newport and just under two and half hours to London, the Chepstow area has already proved an attractive distribution hub to major occupiers."

Rob Russell, Director at DTZ added "This purchase is one of the largest deals in the South West/South Wales in the past 12 months and should give a major boost to the local economy, especially given the recent flurry of operators relocating across the Severn Bridge to Bristol. It is also a great start to the year for the commercial property market and further emphasises that good quality buildings are in demand."

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